india-big-data
Data Mining

Indian Startups: Big Data and Analytics by Ex-Oracle Staff

Our series on Indian startups focuses on new companies that are springing up across India. Kathryn Cave catches up with Suresh Srinivasan, Founder of FORMCEPT

My co-founder, Anuj Kumar and I both came from Oracle, Suresh Srinivasan tells me over the phone from Bangalore.  FORMCEPT provides “a unified analytics platform which takes data from multiple sources and makes it useful for the end user.”

This is the promise of many new companies in the Big Data arena. In fact, IDC predicts that this year Big Data will reach $16.1 billion and grow six times faster than the IT market overall.  India itself is also moving at a phenomenal pace with escalating volumes of consumers moving online. And last month, UNICOM organised "India Big Data Week 2014" which featured a conference a day across seven core locations.

“If you look at today’s analytics people are talking about Big Data, but still many companies’ adoption is very slow and this is [firstly] because of unavailability of certain tools in the market,” explains Srinivasan. “Secondly the tools of capturing a large volume of data are there, but data analysis is a major issue. The main problem is the pre-processing of the data itself.”

FORMCEPT was amongst the top 20 winners selected in the Economic Times' Power of Ideas Contest 2012, just before it went to market in early 2013. The aim is to take high volumes of unstructured data and reduce the pre-processing time.  “Our differentiator is when the data is being sourced, whether structured or unstructured, using our proprietary semantic engine, data will be linked across data sources based business entities,” Srinivasan says. "This enables anyone to develop cognitive based data driven application faster on our stack."

“Right now we are playing with the platform but we have a clear go-to-market strategy,” he says. This involves validating the product in India, partnering with data organisations, systems integrators and speaking directly to SMEs. Yet the main market will be the US and Europe where the landscape is more mature.

Srinivasan does believe that having more sophisticated data analytics in place is one thing that may help Indian IT to transition from a services model. “If you look at the Western market adoption is very fast because more innovation happens there.”

 “There is a good traction in the Big Data space because people are trying to understand what the technology can do. At this point people are struggling to visualise what their data can do,” he concludes.  “We believe there will be a lot of traction within India [itself] by Q4 2014.”

 

If you would like to nominate an organisation please drop Kathryn Cave a note.

 

Kathryn Cave is Editor at IDG Connect

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